Reference no: EM131208052
Analysis of Receivables Method
At the end of the current year, Accounts Receivable has a balance of $705,000; Allowance for Doubtful Accounts has a debit balance of $6,500; and sales for the year total $3,170,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $33,200.
a. Determine the amount of the adjusting entry for uncollectible accounts. $
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
Accounts Receivable $
Allowance for Doubtful Accounts $
Bad Debt Expense $
c. Determine the net realizable value of accounts receivable. $
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Analysis of receivables method
: At the end of the current year, Accounts Receivable has a balance of $705,000; Allowance for Doubtful Accounts has a debit balance of $6,500; and sales for the year total $3,170,000. Using the aging method, the balance of Allowance for Doubtful Accou..
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